Monday Roundup: 1547 CSR, CoreSite, Involta, Bluebird

December 18th, 2023 by · Leave a Comment

Here are four interesting infrastructure items I missed from last week that are worth catching up on.  A data center purchase, a couple expansion announcements, and a balance sheet move in the fiber space:

1547 Critical Systems Realty made another inorganic move last week with the help of Harrison Street. The two partnered up to buy the Chase Tower in McAllen TX down on the US-Mexico border. It’s a 17-story building, within which there are 209,000 square feet of carrier hotel space and interconnection options to some 46 networks via two meet-me-rooms. 1547 and Harrison Street have teamed up to buy 7 properties over the past four years.

CoreSite has revealed plans to add 685K square feet of space across the two markets of New York and Denver. In New York they have received final permitting for NY3, an 85,000 square foot facility. It will be adjacent to NY2, which is across the river from Manhattan in Secaucus NJ. In Denver they are looking to build a new campus on 15 acres of land where they can build as much as 600,00 square feet and 60 CMW of capacity. Initially they are talking about a three floor facility and 18 CMW of capacity.

Involta will be investing some resources out in Arizona in response to demand from AI and enterprise edge opportunities. They will be adding capacity to their 38,000 square foot facility in Tucson, adding enough power to pass the 1MW mark. Involta recently launched two IX platforms within the facility, providing an interconnection alternative to the larger Phoenix market, which sits a hundred miles to the northwest.

And Bluebird Network has made a move to improve its balance sheet. They have raised $285M via a combination of 5-year senior secured credit facilities. The proceeds will go to refinancing existing depth as well as toward capex needs. The company added 360 new route miles of fiber across their presence in Missouri, Illinois, and Iowa in the past year. One project includes a grant-backed intercity build between St. Louis and Tulsa.

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Categories: Datacenter · Fiber Networks · Financials · Mergers and Acquisitions · Metro fiber

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